MBS Update: Slightly Stronger After ADP Employment

Sean Bailey

Branch Operator

Caliver Beach Mortgage

M: (678) 231-2462

E: seanb@caliverbeach.com

www.investwithsean.com

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Jacksonville FL 32073

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NMLS # 2128276

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MBS Morning:

MBS Recap:

MBS Alert:

MBS Update:

MBS Huddle:

Slightly Stronger After ADP Employment

Thu, Sep 5 2024, 8:37 AM

ADP Employment
- 99k vs 145k f'cast, 111k prev
Challenger Layoffs
- 75k vs 26k prev
Jobless Claims
- 227k vs 230k f'cast 232k prev
Continued Claims
- 1838k vs 1870k f'cast, 1860k prev

ADP employment is an on-again/off-again market mover, but it is having an impact today considering the market's sensitivity to labor market data. Bonds had been unchanged to slightly weaker before the release and moved into positive territory afterward.

The initial reaction to jobless claims data was mildly negative, but not enough to undo the ADP-driven gains.

10yr yields are down 2.1bps at 3.734 and MBS are up 3 ticks (.09).

More MBS and Treasury Markets

MBS Recap:

Wild Ride on Jobs Day as Fed Speakers Steal The Show - Fri, September 6, 9:33 PM

MBS Alert:

Lenders Could Reprice in EITHER Direction - Fri, September 6, 4:32 PM

MBS Morning:

Jobs Report Does Nothing to Resolve Fed Rate Cut Debate - Fri, September 6, 2:55 PM

MBS Update:

Reversal Reversing (Bonds Turning Green) - Fri, September 6, 2:37 PM

MBS Alert:

Bonds Fully Erase Post-NFP Gains - Fri, September 6, 1:37 PM

Sean Bailey

Branch Operator

Caliver Beach Mortgage

M: (678) 231-2462

E: seanb@caliverbeach.com

www.investwithsean.com

Pre-Approval Link!

Get A Quote!

Jacksonville FL 32073

License:

NMLS # 2128276

Ask Me a Question

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